The BoE’s meeting last week did not leave any special impact on GBP therefore this currency is acting weak against USD. The support rests at 1.24510 with resistance at 1.25130 which the weekly pivot point at 1.24780 is located in between the lines. The EMA of 10 is moving horizontally and it is below the EMA of 100 and the EMA of 200. The RSI is moving below 50 area, the Stochastic is moving in high ranges and the MACD indicator is in negative territory. The ADX is showing buy signal. Short positions are recommended targeting 1.2400.
GBPUSD analysis for 19.12.2016
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